Financial stocks were rising in Friday afternoon trading, with the NYSE Financial Index up 0.3% and the Financial Select Sector SPDR Fund (XLF) adding 0.4%.

The Philadelphia Housing Index was rising 0.5%, and the Real Estate Select Sector SPDR Fund (XLRE) was 0.2% higher.

Bitcoin (BTC-USD) was increasing 1.8% to $98,373, and the yield for 10-year US Treasuries fell 6 basis points to 4.47%.

In economic news, US retail sales fell by 0.9% in January, versus the 0.2% decrease expected in a survey compiled by Bloomberg and the previous month's 0.7% gain.

President Donald Trump ordered officials to develop custom tariffs for imports from all US trading partners and report their recommendations for imposing reciprocal tariffs.

In corporate news, Blackstone (BX) is mulling a sale of Olympus Energy, its natural gas exploration company, that could be valued at up to $2 billion, Bloomberg reported. Blackstone shares rose 2.7%.

Brookfield Asset Management (BAM) has closed its Brookfield Growth venture capital-focused unit, Bloomberg. Brookfield Asset shares added 3.3%.

HSBC (HSBC) is reportedly set to unveil $1.5 billion in annual cost savings as part of Chief Executive Georges Elhedery's restructuring efforts, the Financial Times reported. HSBC shares were up 0.1%.